Fintech as a Service Market size was valued at USD 360.15 billion in 2024 and is likely to cross USD 2.96 trillion by 2037, expanding at more than 17.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of Fintech as a Service is estimated at USD 414.03 billion.
The growth of the market can largely be attributed to the growing investments by banks in advanced technologies to improve their offerings and customer experience. Along with this, rising adoption of smartphones for money transactions, and increasing demand for hassle-free and seamless access to loan services and products are also expected to drive market growth in the forthcoming years. As of 2022, the total number of smartphone users in the world was calculated at more than 6 billion. Also, the total number of smart and feature phone users globally are about 7 billion. Furthermore, fintech-as-a-service offers several benefits, such as low maintenance fees, low-cost processing fees, fraud and chargeback prevention, and enhanced customization, which is projected to offer ample growth opportunities to the market in the near future.
Growth Drivers
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
17.6% |
|
Base Year Market Size (2024) |
USD 360.15 billion |
|
Forecast Year Market Size (2037) |
USD 2.96 trillion |
|
Regional Scope |
|
The fintech as a service market is segmented by service into payments, fund transfer, wealth management, personal loans and P2P lending, insurance, personal finance, and others, out of which, the service into payments segment is anticipated to hold the largest share in the global fintech-as-a-service platform market. This can be accounted to the increasing number of mobile payments across the globe, which is evaluated to raise the usage of payment apps and gateways. Additionally, on the basis of application, the retail banking segment is predicted to grab the largest share during the forecast period, which can be credited to the rising necessity of digital banking among consumers. Apart from this, rapidly growing e-commerce industry worldwide is also assessed to boost the growth of the market segment in the future
Our in-depth analysis of the global market includes the following segments:
|
By Service |
|
|
By Application |
|
Asia Pacific industry is expected to account for largest revenue share by 2037. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the generation of large amount of data, and growing technological developments in the finance sector in the region. In 2021, the consumer internet traffic in the Asia Pacific was more than 95 exabytes per month, up from 70 exabytes per month in 2020 and 72 exabytes per month in 2019 respectively. Moreover, the market in North America is expected to acquire the largest share during the forecast period ascribing to the rising adoption of smartphones, and growing adoption of smartphones in the region. In addition, strong footprint of market players is also projected to fuel the fintech as a service market growth in the region in the coming years.
Author Credits: Abhishek Verma
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?